BusinessLogrBusinessLogr
  • Home
  • Stocks
  • Finance
  • Business
  • Company
  • Economy
  • Industry
  • Investing
  • Car News
  • Contact Us!
Reading: This company is laying off almost all its workers because of tariffs
Share
Aa
BusinessLogrBusinessLogr
Aa
  • Home
  • Stocks
  • Finance
  • Business
  • Company
  • Economy
  • Industry
  • Investing
  • Car News
  • Contact Us!
Follow US
© 2023 BusinessLogr News Network.
BusinessLogr > Company > This company is laying off almost all its workers because of tariffs
Company

This company is laying off almost all its workers because of tariffs

Loknath Das
Last updated: 2018/08/08 at 5:47 PM
Loknath Das Published August 8, 2018
Share
2 Min Read
SHARE

Image result for This company is laying off almost all its workers because of tariffs

A South Carolina company plans to lay off almost all its workers — 126 people — because of the Trump administration’s tariffs.

Element Electronics, which assembles televisions, notified the state of the expected job cuts earlier this week. The company also plans to close its plant in the town of Winnsboro.

The company said the layoffs and plant closure were a direct result of US tariffs on goods imported from China, including important parts that Element uses to put together TVs.

The layoffs will begin in October. By the end of the year, a skeleton crew of eight people will be left, the company said.

Element said on Twitter that it is working to have the parts removed from the tariff list, and hopes it can avoid closing the plant. In its notice, it also said it could reopen in three to six months.

The company declined further comment. The office of the US Trade Representative, which handles requests for exemptions to the China tariffs, did not immediately return a request for comment.

In July, the administration imposed a 25% tariff on $34 billion worth of Chinese imports. Beijing, accusing the United States of trade bullying, has retaliated by imposing tariffs on American goods of equal value.

The United States plans tariffs on an additional $16 billion of Chinese goods, to take effect August 23.

The planned layoffs at Element Electronics were first reported by The State newspaper of Columbia.

[“Source-money.cnn”]

You Might Also Like

Create a Media Company Instead of a Blog

The Best Content Marketing Brands’ Top Ten Corporate Blogs

5 Reasons Why Your Company Should Run an Internal Blog

Another essential joint effort, McKinsey and C3 man-made intelligence speed up big business man-made intelligence changes

14 Business Blog Models and Why They Work

TAGGED: all, almost, because, company, IS, It's, laying, of, off, tariffs, THIS, workers
Loknath Das August 8, 2018
Share this Article
Facebook Twitter Email Print
Share
Previous Article Private company status: NCLAT asks Tata Sons to file reply by 10 August
Next Article INSIDE MAGIC LEAP’S QUEST TO REMAKE ITSELF AS AN ORDINARY COMPANY (WITH A REAL PRODUCT)

Most Viewed Posts

  • Environmental thematic investing set for strong growth in 2022
  • Second income center in banks
  • T-Mobile Adds Mexico, Canada to Simple Choice Plan
  • Tieghan gerard income in banks
  • 20 Fitness Franchises: Planet Fitness and Beyond

Most Viewed Posts

  • Environmental thematic investing set for strong growth in 2022
  • Second income center in banks
  • T-Mobile Adds Mexico, Canada to Simple Choice Plan
  • Tieghan gerard income in banks
  • 20 Fitness Franchises: Planet Fitness and Beyond

Recent Posts

  • Investing in Youth: The Role of Development Banks
  • Why a cutting-edge billing system is essential in 2025: Accelerate Your Telecom Growth

© 2023 BusinessLogr News Network.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?